Today Measurabl announced its $50M Series C round. I’d like to take this opportunity to reflect on what made this important milestone possible, and underscore the key elements of what we will be doing over the coming quarters and years to profoundly expand our technology and service platform while returning transformative, positive value to the real estate industry we love.
Some of you may have already heard Measurabl’s founding story – the experience I had as a tenant rep broker at CBRE during the Great Financial Crisis, the helping hands who encouraged me to integrate my personal interest in sustainability into my professional life, and the many rejections my business vision for Measurabl received during its formative stage.
We will profoundly expand Measurabl’s technology and service platform while returning transformative, positive value to the real estate industry we love.
The years between 2013 and today included dozens of very difficult moments. All were far outweighed by our successes. From assembling a talented team to launching a first-of-its-kind product to raising venture capital before proptech or ESG were cool… I will not forget the teammates, customers, investors, and flat out good samaritans who collectively saw to it that We are here. I count everyone who resonates with this message among them.
I look around and observe how important the work we do is. Real estate is not only the world’s largest asset class—it’s also one of the most environmentally and socially impactful. We hear the daily drumroll of sobering statistics attributed to real estate: 39% of carbon emissions, 12% of potable water, 40% of raw materials, 90% of our time spent indoors… The environmental let alone human health and well-being implications behind these numbers are vast. And so is Our Collective Task, in which Measurabl is committed to playing a key role. After all, our industry will make zero improvements on any of these aspects if we cannot measure them. Full stop.
Today we celebrate the establishment of Measurabl as the industry-standard platform for measuring, managing, and reporting ESG. But we must go much farther. If we are going to be successful, we must help our customers act. With this in mind, Measurabl has reaffirmed its intention of being a primary contributor to the fundamental transformation of the real estate industry into a scion of sustainability. Let us do this work together.
We reaffirm our intention of being a primary contributor to the fundamental transformation of the real estate industry into a scion of sustainability.
I strongly believe the business plan we presented in raising this round is the correct path to realizing our ambitious goal of positive industry transformation. Our core SaaS product is effective, scalable, affordable, and popular. But that was merely the start…
A lack of transparency into and credibility of ESG claims is a major block to sustainable transformation. We will therefore launch a Data Product so our existing customers and their stakeholders can understand the ESG performance of real estate markets and entities down to individual assets and spaces. So, whether you own, occupy, lend, insure, securitize, regulate or rate, any party to a real estate transaction will be able to apply ESG to their decisions confidently, confidentially, and in the way you see fit.
Moving from information to action is the next step. Measurabl has launched a Professional Services line of business to support our customers in this move, realizing profitable sustainability objectives as a result. Lastly, we will serve new geographies in collaboration with our growing cadre of world-class service and technology partners as part of a single, interconnected ESG platform for the real estate industry.
I encourage you to share this note among your colleagues, peers, and anyone who you believe could be a contributor to our vision as described herein. We welcome your support and want to lend ours to your efforts in hastening the transformation to a sustainable built world.
Finally, a BIG THANK YOU to our fabulous customers, investors, and friends for helping us reach this milestone. Onwards together toward greater positive impact!
Matt Ellis is CEO and Founder of Measurabl.